* Rupiah at 17-year low on corp dlr bids, weak stocks, bonds
* Singapore c.bank intervention spurs short-covering -
* Won hits 20-month trough before c.bank rate decision
(Adds text, updates prices)
By Jongwoo Cheon
SINGAPORE, March 11 (Reuters) - Indonesia's rupiah hit a
fresh 17-year low on Wednesday, leading losses among emerging
Asian currencies due to waning risk sentiment, while the
Singapore dollar rose as the central bank was suspected of
The rupiah fell to a new low, last seen during the
1997-98 Asian financial crisis, on dollar demand from local
companies and as foreign investors sold the currency amid lower
stocks and bond prices.
The South Korean won slid to its weakest in 20
months a day before the central bank's interest rate meeting.
Malaysia's ringgit touched a six-year low.
Asia-Pacific shares outside Japan fell to a
two-month low and the dollar hit a 12-year peak against the euro
on views that the U.S. Federal Reserve may raise interest rates
by mid-year, earlier than expected.
That hurt riskier assets both in the United States and
elsewhere with the S&P 500 suffering its worst decline in
two months overnight and emerging market stocks down
to their lowest since early January.
China's industrial output, retail sales and fixed-asset
investment in the first two months of the year missed market
expectations, underscoring concerns over a slowdown in the
world's second-largest economy.
"Double whammy of USD strength and risk off tone lifted
USD/Asia," said Andy Ji, Asian currency strategist for
Commonwealth Bank of Australia in Sydney.
Still, Ji saw some chances of a rebound in emerging Asian
currencies, saying the U.S. dollar remains in technically
He said the Singapore dollar's downside was limited
on suspected intervention by the central bank and the won may
head to the 1,100 per dollar level again once the Bank of Korea
stands pat on Thursday.
The Singapore dollar gained as the Monetary Authority of
Singapore looked to support the third worst-performing Asian
currency this year.
On Tuesday, the city-state's currency hit 1.3910 per dollar,
its weakest since July 2010. The Singapore dollar has lost 4.4
percent so far this year.
Traders scrambled for the Singapore dollar to cover short
positions as it strengthened past 1.3880.
"Given the MAS' clear determination, the dollar/Sing is
unlikely to rise as much as others," said a foreign bank trader
in Singapore, referring to the U.S. dollar/Singapore dollar.
Still, many investors sold the city-state's currency on
rallies due to growing expectations that the central bank may
ease policy in April meeting.
The rupiah fell 1.2 percent to 13,240 per dollar, its
weakest since August 1998.
Indonesian government bond prices slid with the 10-year
yield at 7.568 percent, its highest since Jan. 20.
The official Jakarta Interbank Spot Dollar Rate,
which the central bank introduced in 2013 to manage exchange
rate fluctuations, was fixed at 13,164 rupiah per dollar, the
weakest since the launch.
The central bank was spotted intervening to support the
worst-performing Asian currency so far this year, although the
authorities were not targeting to keep a certain level, traders
On Tuesday, deputy central bank governor Perry Warjiyo said
the authority will always ensure the currency was stable
according to market fundamentals.
Indonesia will impose regulations such as temporary
anti-dumping import duties to help narrow the current account
deficit and prop up the rupiah, the finance minister said.
The won lost as much as 0.6 percent to 1,129.6 per dollar,
its weakest since July 2013 as offshore funds continued to sell
South Korea's exporters hesitated to buy the currency for
settlements amid expectations of further losses, traders said.
Investors were awaiting the central bank's monetary policy
The Bank of Korea is likely to keep interest rates unchanged
this week but cut them next month when it revises its forecasts
to reflect a more tepid economic recovery than initially
expected, a Reuters poll showed.
CURRENCIES VS U.S. DOLLAR
Change on the day at 0505 GMT
Currency Latest bid Previous day Pct Move
Japan yen 121.41 121.14 -0.22
Sing dlr 1.3876 1.3905 +0.21
Taiwan dlr 31.645 31.566 -0.25
Korean won 1127.00 1122.60 -0.39
Baht 32.70 32.72 +0.06
Peso 44.35 44.27 -0.18
Rupiah 13225.00 13088.00 -1.04
Rupee 62.82 62.76 -0.10
Ringgit 3.7100 3.7035 -0.18
Yuan 6.2627 6.2620 -0.01
Change so far in 2015
Currency Latest bid End prev year Pct Move
Japan yen 121.41 119.66 -1.45
Sing dlr 1.3876 1.3260 -4.44
Taiwan dlr 31.645 31.718 +0.23
Korean won 1127.00 1099.30 -2.46
Baht 32.70 32.90 +0.61
Peso 44.35 44.72 +0.83
Rupiah 13225.00 12380.00 -6.39
Rupee 62.82 63.03 +0.33
Ringgit 3.7100 3.4965 -5.75
Yuan 6.2627 6.2040 -0.94
(Additional reporting by IFR Markets' Catherine Tan; Editing by